Demae-Can (2484) Q1 2026 earnings summary

Executive summary

• Revenue for 1Q FY8/2026 was 9.0 bn yen, down 0.6 bn yen year-over-year, net of coupon discounts.

• Net sales for the three months ended November 30, 2025, decreased 18.6% year-over-year to ¥8,989 million, with an operating loss of ¥1,681 million and a net loss attributable to owners of parent of ¥1,670 million.

• Strategic initiatives such as "Dynamic Pricing" and "Demae-can at Dine-in Price" drove order and GMV growth for deliveries fulfilled by the company.

• Focused on enhancing growth and competitiveness in the food delivery market through service quality improvements, user retention initiatives, and merchant expansion.

• Strategic cost management included optimizing fixed costs and introducing targeted promotional coupons, with related costs now deducted from sales.

Financial highlights

• GMV for 1Q FY8/2026 was 37.5 bn yen, 93% of the prior year.

• Revenue net of coupon discounts was 9.0 bn yen, 81% of guidance.

• Operating loss widened to 1.7 bn yen, an increase of 1.3 bn yen year-over-year.

• Ordinary loss increased to ¥1,668 million from ¥462 million year-over-year.

• Gross margin declined to 2.4% in 1Q FY8/2026 from 28.1% in 1Q FY8/2025.

Segment performance

• Orders and GMV for company-fulfilled deliveries grew over 100% year-over-year, driven by new pricing and membership initiatives.

• Participating merchants in the "Demae-can at Dine-in Price" trial saw order increases ranging from 4.7x to 19.1x depending on cuisine and merchant size.

• In Tokyo's three-ward trial, participating merchants' orders increased 2.6x, with total area orders up 1.4x.